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Updated about 7 years ago, 11/09/2017
Rent or Sell this house? Here is the info about it.
So we are just finishing up a beautiful house right now. Its a 3 bed/ 2.5 bath ranch style house with attached garage and detached garage in back both in wonderful shape.Fenced in yard with big above ground pool and porch around it. Also putting a brand new back porch on the back. Roof still have 10-15 years left, new gas furnace, new ac unit central air. Everything in the house has been remodeled. Its a nicest property we will have. Great location and beautiful neighborhood. B neighborhood. My question is to sell it or rent it? Here are my numbers. Will have $55,000 into it. Could sell between $100,000-$150,000. Or rent between $1000-$1200. Here are more detailed numbers from BP rental calculator. If you need anymore info please let me know. I also have 7 SFH all together and a duplex. Im $140,000 in debt
NOI:
$6,944.00
Cash on Cash ROI:
17.56%
Monthly Cashflow:
$439.09
Income-Expense Ratio (2% Rule):
1.96%
Total Initial Equity:
$94,000.00
Gross Rent Multiplier:
1.89
Debt Coverage Ratio:
4.15
Purchase Cap Rate:
27.78%
Pro Forma Cap Rate:
5.79%